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(ignore what I have written in already I don't know if it is correct or not) Question 3 s on its July 31 year-end. The
(ignore what I have written in already I don't know if it is correct or not)
Question 3 s on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Reccivable account balance is $25,600. Notes Receivable include the following Face Value Maturity Date Interest Rate Term $4,000 90 days July 20 7,200 60 days July 24 Maker Date April 21 Coote Inc. May 25 Brady Co. June 30 BMG Corp. 14,400 months December 31 8% 10% 6% During July, the following transactions were completed July 5 14 20 24 Made sales of $4,730 on Pronghorn Corp credit cards. Made sales of $400 on Visa credit cards. The credit card service charge is 5%. Received payment in full from Coote Inc. on the amount due Received payment in full from Brady Co. on the amount due. Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts, (Post entries in the order of journal entries posted in the previous part.) Notes Receivable 7/1 Bal. 7/20 7/24 7/31 Bal. Accounts Receivable Interest Receivable eTextbook and Media Show the balance sheet presentation of the receivable accounts at July 31 Pronghorn Corp Balance Sheet (Partial) For the Year Ended July 31, 201X Current Assets Notes Receivable inters Total Assets eTextbook and Media list of AccountsStep by Step Solution
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